BlackRock’s Increased Investment in Cryptocurrencies
Larry Fink, CEO of BlackRock, the world’s largest fund, continues to increase his investment in cryptocurrencies. This is evident from the latest crypto market report by Finbold for 2025, where the fund manager increased its exposure to these digital assets by $22 billion.
According to Finbold, the value of BlackRock’s holdings in Bitcoin (BTC) and Ethereum (ETH) increased from $54.83 billion to $77.35 billion in the last twelve months. This represents an increase of $22.52 billion, or an annual gain of 41.07%, according to data from the blockchain analysis platform Arkham.
Bitcoin as the Backbone of the Portfolio
When analyzing the portfolio of the world’s largest fund manager, Bitcoin remained the main driver of BlackRock’s crypto exposure. During the period analyzed, BTC holdings increased from approximately 552,550 BTC to 770,380 BTC, representing an increase of 217,830 BTC.
Measured in dollars, exposure to Bitcoin went from $51.16 billion to $67.14 billion, an increase of $15.98 billion, equivalent to an annual growth of 31.24%.
Ethereum, the Asset with the Highest Relative Growth
On the other hand, Ethereum was the asset with the highest percentage growth. BlackRock’s ETH holdings expanded from around 1.07 million ETH to 3.48 million, adding approximately 2.41 million ETH in 2025.
The value of these positions rose from $3.59 billion to $10.21 billion, an increase of $6.62 billion, which implies that they almost tripled (+184.40%) in the year.
Finbold analysts point out that these figures underline not only the sustained institutional demand for crypto assets, but also BlackRock’s trend to deploy capital consistently during consolidation periods, rather than chasing short-term price increases.
ETFs, Flows, and Strong Start to 2026
The report also highlights the key role of exchange-traded funds (ETFs), especially during the first quarter of 2025, despite price volatility. At the end of March, BlackRock had approximately 575,860 BTC and 1.17 million ETH, with a combined portfolio valued at $49.85 billion.
According to Finbold, the temporary drop in valuation reflected the overall market volatility more than a reduction in exposure, as accumulation continued underlying. This momentum accelerated in the second quarter: by the end of June, the crypto portfolio grew by $23.91 billion, going from $54.77 billion to $78.67 billion.
The third quarter saw the biggest jump. Between July and September, BlackRock’s crypto portfolio shot up to $102.09 billion, an increase of 28% in just three months. While Bitcoin added about $11 billion, Ethereum was the standout asset, with a jump of more than 260%, driven by growing institutional interest in Ethereum-linked returns, tokenization, and use cases in settlement.
At the start of 2026, BlackRock maintained this aggressive strategy. According to Coinglass, the firm channeled approximately $1.24 billion towards Bitcoin and Ethereum through its spot ETFs. The iShares Bitcoin Trust alone accumulated $888.6 million in the first few days of the year, with a daily peak of $372.5 million on January 5.
In Ethereum, the manager’s spot ETF captured $348.9 million, with a record daily purchase of $198.8 million on January 6, reflecting a pattern of sustained accumulation.
These purchases helped support the crypto market at the start of 2026, with Bitcoin trying to consolidate above $90,000 and Ethereum above $3,000. In parallel, the spot ETF market continues to gain prominence: Morgan Stanley filed an application to launch a Bitcoin spot ETF in the United States, in a new sign of expanding institutional interest in digital assets.
